Heat the oil in a large pan with sides over medium-high heat. Add in the mushrooms, onion, and carrots. Cook until the mushrooms have released their moisture, about 8-10 minutes then mix in the garlic.
Pour in the red wine and cook until most of the wine evaporates. Then mix in the tomato paste, Lee Kum Kee Panda Brand Oyster Flavored Sauce, thyme, bay leaves, and vegetable stock. Bring the liquid to a simmer then cover the pan with a lid. Cook for an additional 10-15 minutes until the carrots are tender and the sauce has slightly thickened.
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